United Bankshares Q3 Profit Increases - Quick Facts

(RTTNews) - United Bankshares Inc.'s (UBSI) earnings for the third quarter of 2014 were $33.3 million or $0.48 per share, an increase from earnings of $22.2 million or $0.44 per diluted share for the third quarter of 2013.

The results for the third quarter of 2014 included non-cash, before-tax, other-than-temporary impairment charges of $4.7 million on certain investment securities. No noncash, before-tax, other-than-temporary impairment charges were recognized during the third quarter of 2013.

Tax-equivalent net interest income for the third quarter of 2014 was $97.5 million, an increase of $28.4 million or 41% from the third quarter of 2013. This increase in tax-equivalent net interest income was primarily attributable to an increase in average earning assets from the Virginia Commerce acquisition.

Non-interest income for the third quarter of 2014 was $16.3 million, which was a decrease of $2.0 million from the third quarter of 2013.